8/4/2019 Long, Blistering Days

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Long, blistering daysBetter outreach, warnings this year help save lives, 3A

ByCharlesRexArbogast,AP

A cool escape:In Chicago (above),the CrownFoun-tainat MillenniumParkoffersvisitorsa bitof respite.On Wednesday,33 stateswereunderheatadvisories andwarnings.Chicagosheatindexhit108degrees.

ByPatrickFlood,The(Fonddu Lac,Wis.)Reporter

Poolingthe fun:NickGodfrey,12,of Campbellsport,Wis.,makesasplashat theFonddu Lacfairgrounds(right). Temper-aturesare forecasttoeasein theupperMidwest todaythrough Saturday,buttheylikely willbuildback up bynextweek.

F

SCORES INSIDE $1.00T H E N A T I O NS N E W S P A P E RLATE

TSA: Newsoftware to providemore private full-body scans

Generic image willreplace passengers image;critics sayits stillan unlawful stripsearch.3A.

A chaotic scenebeforethreehikers swept over waterfallSearch continuesthough threepresumed dead.Flowsat Yosemitefalls strongerthis yearafternear-record snowpack,rainy spring. 3A.

Policeofficer deathson risedespite drop in violent crimeCutsto lawenforcement trainingand equipmentbudgets maybe a factor, policegroupsays.2A.

Apples latest operating

systemcomes outroaringOSX Lion,a $29.99digital download,letsuserstap,pinch, swipethroughprograms. 4B.

Crossword, Sudoku 7CEditorial/Forum 8-9AMarket scoreboard 6BMarketplace Today 7CState-by-state 9ATV listin gs 7A

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Wall Street firms may be on the edge of afinancial calamity and most dont know it, sayanalysts tracking the debt-ceiling faceoff inWashington.

Many marketplayers expectthe White Houseand Congressto cometo a dealto boost the debtlimitbeyond itscurrent $14.3trillioncap.

Others in Washington say chances are high

that an agreement wont be reached before theAug. 2 deadline, when the Treasury Departmentpredicts it wont have enough cash to pay all ofits bills.

Ifthe deadline passeswithno deal, stocksandotherassets couldtake apounding, much as theydid after Congress ini-tial rejection of a mas-sive bailout in Septem-ber 2008.

TheDow Jonesindus-trial average plunged778 points on the vote,its largest one-day pointdropever.

Many on Wall Streetdont see that happen-ing. Robert Tipp, chiefinvestmentstrategistat PrudentialFixed Income,thinks the odds that an agreement isnt reachedbythe deadlinearelessthan1%. Wereguarded-

ly optimistic, he says.However, Stan Collender, an expert on federal

fiscalpolicy,putsthe odds at50%.Wall Streethas completely pricedin thelike-

lihood of a deal, saysCollender, a budget analystat Qorvis Communications in Washington.Thats verydangerous because theydont seemtohavepreparedahead oftime.

While money managers view the debatethrough the lens of the markets, elected officialskeep their eyes on the views of those who putthemin office.

Tea Party Republicans in the House of Repre-sentatives saytheywereelectedto getcontrolofthe soaringfederal deficit.

Youre asking a big chunk of elected officialsto vote against the will of their constituents,says former Delaware senator Ted Kaufman, aDemocrat. Now we are less than two weeksaway from requiringtheHouse andtheSenatetopass a bill that many Americans may not sup-port.

He puts the odds that the government fails toact byAug. 2 at60%.

Elected officials may need to be shocked intoaction. While some members of Congress, in-cluding Rep. Michele Bachmann, R-Minn., saythey dont expect the market to unravel if thedebt ceiling isnt raised, a market selloff couldsparka deal.

Indeed, thats the same scenario that playedouton Sept.29, 2008, whenthe Housedefeateda$700 billion bailout of the financialsystem.Afterthe stock market tanked, the House passed thebailout.

Wall Street complacency could explain why adeal hasnt been hammered out already, saysMark Thoma, a professor of economics at theUniversityof Oregon.

Ima littlebit surprisedthat financialmarketsarent sending a stronger message, he says. Ifthey were, perhaps an agreement would havebeenreachedquicker.

Marketsbankingon dealover debtPolicy experts warn ofbeing caught off guard

By ScottPattersonUSA TODAY

uMoney managersmaking plans, 1BuPlanto cut thedeficit may haveto wait, 7A

ATLANTA As team owners who form theNFLs labor committee were huddled in a confer-enceWednesday,a firealarmblared at theairporthotelthat is suddenly profootballsnervecenter.

It was a false alarm, but it somehow seemedfitting.

The signal of urgency in the labor skirmishbetween the NFL and its players underscoredby a four-month lockout resonates with thefirsttraining campsslatedto openwithin days.

Itsa two-minutewarningof sorts.Ifa labor deal that is apparently onthe brink of

resolution is completed this week, a full NFLschedule can commence as planned. If talks lin-ger, a ripple effect looms that would delay thestart of camps and threaten to at least alter thepreseason schedule.

Owners are set to vote today onwhether to ratify a new collectivebargainingagreement (CBA)that in-cludes a new split in revenue that is projected togrow from the$9.3billion in2010.

Butwith ratification votesalsoneeded fromtheplayers, the waiting gamecontinues.

Ithinkbothsidesare wherewecan completeadeal, NFL lead counsel Jeff Pash said. We canclose. We should close.

Although players did not vote on whether toaccept thedeal Wednesdayas league officialshadhoped, Pash said he still expected owners would

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COVERSTORY

By Jarrett BellUSA TODAY

ByThomasCampbell,USPresswire

NFL nears end zonein rush to labor deal

Teams, players get readyto kick off flurry of activity

LadyGagaperforms.PhotobyItsuoInouye,AP

Time fora change, Woods says.Came as a shock, Williams says,1C

ByMichaelMadrid,USATODAY

Split: SteveWilliams, TigerWoods in April.

Tiger fires caddie

Shuttle Week

USATODA Snapshots

yAnneR. Carey andSamWard, USATODAYSource: NASA

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Tens of thousands arefeared dead;U.S.sends additional money, 4A

ByOli Scarff,GettyImages

Somalia suffersworst faminein decades, U.N. official says

THURSDAY, JULY 21, 2011

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NFL lockout, Q&AAslabor dealnears, a lookat whatthis meansfor fans andthe sport,1A

Ticket salesforconcerts are upeventhoughprices arehigher,1D

Tours arehot again